Sonnet teams with digital bank to offer group insurance

Sonnet Insurance has teamed up with the digital bank Tangerine to offer customized digital home and auto insurance exclusively for Tangerine clients.

“This relationship speaks to the needs of our like-minded customers who value digital-first experiences that are trusted, straightforward, and customized,” Roger Dunbar, senior vice president of Sonnet, said of the partnership in an announcement. “We are excited to join Tangerine to offer their clients reliable coverage to protect what matters most.”

For Tangerine, it’s a matter of offering a one-stop shopping experience for banking customers seeking a wider array of financial services. Tangerine has more than 2-million clients and more than $40 billion in total assets.

“At Tangerine, our main priority is to support our clients with the best guidance, resources, services, and products to support their financial futures,” said Gillian Riley, president and CEO of Tangerine Bank. “Through this relationship with Sonnet, we are thrilled to provide our clients with access and savings on simple and seamless insurance options that make it easier for them to get the coverage they need, with the innovation and client care they are accustomed to.”

Tangerine customers will have access to Sonnet’s licensed agents.

Bank customers may be eligible for a Sonnet group discount. They must indicate they are a Tangerine bank customer during the online quoting process for home and auto insurance and verify the phone number associated with the account.

They may also qualify for Sonnet’s various other group discounts for home and auto insurance. Depending on the group, the benefits may apply to either home or auto insurance, or both. When getting an online quote, Tangerine clients will be asked for a group ID to confirm eligibility.

To qualify for a Sonnet group discount, a Tangerine client or their spouse must be an alumni or a student of an eligible Canadian University, member of an eligible association, an affinity partner or an employee/retiree of a sponsored company.

“Tangerine clients are eligible for various group discounts, where applicable,” a Sonnet spokesperson confirmed. “Based on regulations we adhere to, we must provide our customers with the best group discount possible.”

In addition, Tangerine clients get 2% money back on their Tangerine credit cards when they use their credit cards to make monthly payments for Sonnet home and auto insurance. Tangerine clients need to select ‘Recurring Bills’ on their Tangerine accounts to qualify.

If Tangerine customers are already Sonnet policyholders, to get the 2% discount, they must update the payments method on their Sonnet account. Once they enter the new payment option — i.e. their Tangerine credit card information — the 2% discount will apply.

Feature image courtesy of iStock.com/Jay Yuno